Student loan debt delays big purchases

Local News
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A recent study conducted by the website bankrate.com – says that over half of millennials are delaying major purchases, such as buying a house or new car, until they pay off their student loans.

LSU graduate, Kaki Heiligenthal, loves her job at the Baton Rouge Zoo.

She is the Director of Marketing and Development at the zoo.

With all of her success, there are however – a couple of things she doesn’t have yet.

“I’m 29 years old and I still haven’t bought a house. I’m still driving the same car I got right after college and I don’t have a definite plan of when those things are going to happen,” she said.

She says that a lot of it has to do with the fact that she is still paying off her student loans.

Is this a pattern that plagues everyone with student loans?

Joshua Adebutu, Sales Associate at All Star Automotive Group in Baton Rouge, disagrees.

“Just from what I’ve been seeing, it seems like college students are coming straight to the lot after graduation.  We have some college graduate deals, but people are just ready to get their car,” he said.

Local real estate agents say they experience the exact opposite of that.

In fact, in their opinion – there really aren’t too many cases where someone under 30 years old looks to by a house.

Some think it may not have anything to do with student loans.

Jaun Andricain, of Keller Williams Realty, said, “A car is a sign of freedom. Take that car and you go do things. A home is establishment. The attitude there is slightly different, so I think that might be a part is to why some of those millennials are waiting.”

If you would like to see the report in it’s entirety, click here.

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